2012 was a good year for the Silver Spring and Takoma Park, Maryland residential real estate markets. There was improvement in every area, such as slightly higher sales prices and less days on the market. Now that were are 2 months in to 2013, there are three key trends that are driving our market.
1. Inventory is at an all-time low. The available inventory in Silver Spring, Takoma Park and the rest of the DC Metro Region is not only at its lowest in seven years but also the lowest on record. Purchasers need to be prepared to move very quickly when they find a home they like.
2. Move-in ready makes a difference. People living in the Washington, DC Metro Area tend to have very busy schedules, so they gravitate towards properties that have no deferred maintenance and include recent upgrades, especially new kitchens and bathrooms. For Sellers of property in Silver Spring and Takoma Park, making these investments to your home before listing, may increase your sale price.
3. Technology has changed everything. Today's market moves very quickly. If you are selling your home, make sure to hire a broker who is using innovative technologies to expose your home locally, nationally and internationally in real-time.